Tag: Gains

An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21. The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes. Noam Copel, who founded the blockchain startup DAV, had bought BTC in 2011 and sold two years later — making a profit of $2.9 million at today’s rates. During the court case, he had argued that bitcoin should be regarded as a foreign currency, as fluctuations in exchange rates are…

View Bitcoin has recorded double-digit gains for three consecutive weeks, a feat last seen during the height of the bull market in 2017. BTC’s quick recovery from Friday’s low of $6,178 indicates “buy the dip” mentality is quite strong. Further, the daily and weekly charts are biased bullish. Prices, therefore, could rise to $8,500 (July 2018) this week. Before such a rise, however, we may see a correction to $7,500–$7,200, according to the hourly chart. The short-term outlook would turn bearish only if prices find acceptance below the 30-day moving…

Bitcoin price started a fresh increase after forming a support base above $6,900 against the US Dollar. The price gained bullish momentum above $7,400 and settled above the key $7,650 pivot level. There is a major bullish trend line forming with support near $7,610 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains well supported on the downside above $7,600 and it could soon break $8,200. Bitcoin price is positioned nicely in the positive zone above $7,600 against the US Dollar. BTC could correct…

ETH price rebounded nicely and traded above the $240 and $250 resistances against the US Dollar. The price tested the $265 level and it is currently correcting lower towards the $240 support. There is a key bullish trend line forming with support near $240 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest near $240 and the 100 hourly simple moving average. Ethereum price remains in a strong uptrend above $240 versus the US Dollar, but consolidating vs bitcoin.…

Sunday, May 19 — most of the top 20 cryptocurrencies are rebounding to report moderate to notable gains on the day by press time. Bitcoin (BTC) has pushed to just below the $8,000 mark again. The market rebound comes after a sharp correction on May 17 that followed almost a week of massive growth. Market visualization courtesy of Coin360 Bitcoin is about eight percent up on the day, trading at $7,928 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up close to 11%. Bitcoin…

Thursday, May 16 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) has fallen below the $7.900 mark again. Market visualization courtesy of Coin360 Bitcoin is over 1.5% down on the day, trading at $7,899 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up nearly 23%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported yesterday, new data suggests that bitcoin’s growth is explained by its maturation as an asset based on conversations surrounding…

Bitcoin price traded to a new 2019 high at $8,370 and recently corrected lower against the US Dollar. The price traded below the $8,200 support, but there are many supports above $7,800 and $7,600. This week’s followed bullish trend line could provide support at $7,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). There were strong gains in Ethereum (broke $265) and ripple (tested $0.4800) in the past few hours. Bitcoin price traded further higher before it faced sellers near $8,370 against the US Dollar. BTC…

Ripple price extended its rally above the $0.4500 and $0.4700 resistances against the US dollar. The price tested the $0.4800 area and it looks set to extend gains above $0.5000. Yesterday’s highlighted important ascending channel is intact with support near $0.4390 on the hourly chart of the XRP/USD pair (data source from Kraken). There were sharp gains in Ethereum above $250 and $260, opening the doors for $300. Ripple price started a significant upward move against the US Dollar and bitcoin. XRP broke $0.4750 and it looks set to surpass…

Wednesday, May 15 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) has fallen below the $8,000 mark again. Market visualization courtesy of Coin360 Bitcoin is nearly a percent down on the day, trading at $7,975 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 25.7%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, the CEO of instant cryptocurrency exchange platform ShapeShift told Bloomberg that bubbles are an essential…

Tuesday, May 14 — Yesterday’s rally in cryptocurrency markets has slowed, with the top 20 coins by market capitalization reporting mixed signals, according to Coin360. Market visualization from Coin360 After breaking the $8,000 threshold yesterday, the leading cryptocurrency bitcoin (BTC) has been holding its ground, having gained 2.85% over the past 24 hours and is trading at $8,004 at press time. As reported earlier today, the bitcoin mining hashrate is becoming more distributed among mining pools. “While the distribution of hash power is certainly better geared against coordinated attacks, the…

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